Ethereum Proof Of Work and Ethereum Proof of Stake

[GreatArkansas]

Recently, I found a tweet about the Ethereum, which the current proof of the work system of Ethereum and the much-awaited of everyone, the proof of stake of Ethereum. But still, development of the Ethereum 2.0 or they say Ethereum will become proof-of-stake.

But I found this tweet on Twitter: https://twitter.com/ercwl/status/1222233953739968515


That twitter user is something telling that the Ethereum (proof-of-work) will have different coins to the upcoming Ethereum(proof-of-stake).
Does it really true? It's like something a fork, a fork that will generate a new coin based on the coin, just like the Bitcoin and Bitcoin Cash.

What can you say about that tweet?

[mineshop.eu]

Recently, I found a tweet about the Ethereum, which the current proof of the work system of Ethereum and the much-awaited of everyone, the proof of stake of Ethereum. But still, development of the Ethereum 2.0 or they say Ethereum will become proof-of-stake.

But I found this tweet on Twitter: https://twitter.com/ercwl/status/1222233953739968515


That twitter user is something telling that the Ethereum (proof-of-work) will have different coins to the upcoming Ethereum(proof-of-stake).
Does it really true? It's like something a fork, a fork that will generate a new coin based on the coin, just like the Bitcoin and Bitcoin Cash.

What can you say about that tweet?

As far as i understand it will come in stages. first stage is phase 0, basically ETH 2.0 where ETH2.0 will be a side chain run from smart contract. Eventually you will swap your eth tokens to eth2.0

[minairia3]

I think he is wrong on his interpretation. As far as I know ethereum will totally shifted into PoS Blockchain completely. That is a waste if they only splitting their chain into PoW and PoS. Might better if they can do a hybrid blockchain but that would take a lot of works to do, synchronizing both consensus. But there are some projects already doing this such as veil. IMO, ethereum needs a total upgrade and the decision about PoS is a solid one. There is no growth in PoW as eth network becomes more congested.

[Ucy]

Recently, I found a tweet about the Ethereum, which the current proof of the work system of Ethereum and the much-awaited of everyone, the proof of stake of Ethereum. But still, development of the Ethereum 2.0 or they say Ethereum will become proof-of-stake.

But I found this tweet on Twitter: https://twitter.com/ercwl/status/1222233953739968515


That twitter user is something telling that the Ethereum (proof-of-work) will have different coins to the upcoming Ethereum(proof-of-stake).
Does it really true? It's like something a fork, a fork that will generate a new coin based on the coin, just like the Bitcoin and Bitcoin Cash.

What can you say about that tweet?

How exactly will the stablecoin and Defi be gone? Well, that probably depends on where majority of Ethereum members decide to pitch their tents on. I guess the chain with the least members will have no stablecoin. Ethereum users who prefer the smaller chain can choose to sell their stablecoins on the bigger chain to buy stablecoin on the smaller chain. Or this can be done automatically after a fork.
There could be some problems if Ethereum is dominated by centralized companies... Governments could get the companies to move to the smaller chain without the input of the majority. And the majority of users would have no option than to move along. This is why it's important to value and encourage decentralized businesses more.
Chain interoperability could make things a bit easier if such thing ever happens.

[dataispower]

At OP mentioned generating new coin after ETH switches to POS, but certainly that's not true. It's just an algorithm switch which will involve a hardfork anyway but not forming a "new coin" per say. There must be critics but this switch from POW to POS will favor some of us who left mining for staking. Validators will benefit from staking ETH in future, that's my happiness.

[GreatArkansas]

At OP mentioned generating new coin after ETH switches to POS, but certainly that's not true. It's just an algorithm switch which will involve a hardfork anyway but not forming a "new coin" per say. There must be critics but this switch from POW to POS will favor some of us who left mining for staking. Validators will benefit from staking ETH in future, that's my happiness.

I was asking if it is generating a totally new coin based on your original Ethereum coin which is the current Ethereum now.
If you check the twitter tweet of that user and read his multiple tweets/replies on that tweet and there are also some people telling that it's not like how the Ethereum 2.0 will work.
That's why I started to share it here since I am curious about what will happen on Ethereum 2.0 which is the proof-of-stake algorithm of it.

[shinratensei_]

No more new coin for ethereum POS, i should remind you that if some people have already talked about this in the past when they think if the future hardfork will create the new ethereum. Ethereum has a second chain (testnet) for POS that called beacon chain. What makes ethereum will be challenging to implement the POS caused by ethereum 1.0 has widely used by a lot of people and that needs time to make them go to the parallel chain that has called beacon chain. 

There will be no new coin and you must understand it better. When both of chain will exist and the current ethereum coin can be moved to the new chain without the ability to convert it back into the ethereum 1.0.

People have their choices whether they want to move it into the parallel chain or not.

Please read this https://blog.bankfrick.li/the-shift-to-ethereum-2-0/

That is a good article.

[OrangeII]

there are two possibilities, that is, divided into two coins, or we need to swap. however, it did change the ethereum system, so it was very likely that it would make new coins.
however, we didn't know before ETH 2.0 actually happened.
the thing that I think about is, there is a big possibility of a swap because when ETH 2.0 was there, I thought the interest of people using ETH would decrease, and move to ETH 2.0

[mineshop.eu]

I think he is wrong on his interpretation. As far as I know ethereum will totally shifted into PoS Blockchain completely. That is a waste if they only splitting their chain into PoW and PoS. Might better if they can do a hybrid blockchain but that would take a lot of works to do, synchronizing both consensus. But there are some projects already doing this such as veil. IMO, ethereum needs a total upgrade and the decision about PoS is a solid one. There is no growth in PoW as eth network becomes more congested.

It will but it wont happen straight away, it will be hybrid from start . Was reading something that 1 block POS and 100 POW and repeat. It will take years till its fully switched